Trump Bankrupting America as The US Budget Deficit is Exploding in 2019

I thought republicans were supposed to be fiscally responsible. But here we have Trump running up an even larger deficit than the insane ones Obama ran up. The Founders considered a deficit to be theft from future generations. They were correct! We're stealing their future! And to paraphrase the late Ross Perot, that giant sucking sound is your life savings being flushed down the crapper by politicians whose own retirement is guaranteed at (future) taxpayer expense. Welcome to The Atlantis Report. During Fiscal 2019, the U.S. Budget Deficit increased by 26.4% to a whopping $984 Billion, Up to $205 Billion from 2018 . That's a hefty 4.7 percent of gross domestic product (GDP) and the highest since 2012. The difference between federal spending and revenue has only ever exceeded $1 trillion four times, in the period immediately following the global financial crisis. And don't forget the debt is increasing faster than the budget deficit too. The budget is just more government lies. The debt increases by the size of the annual budget deficit plus the cost of rolling over all Treasuries that matured that year. It's not like we have a wad of excess cash on hand to pay off maturing Treasuries. The projected deficit is under one trillion; however, as of today, the U.S. debt clock shows the deficit at 1.02 trillion, up from 680 billion when Obama left. As well, when Obama left the national debt was at 19 trillion, today's national debt clock shows it at 22.8 trillion. It's clear to me that the U.S. can keep on printing and spending until the dollar is no longer the world's reserve currency. During the period that the reserve currency status starts slipping away, times will get tough. Hey, that's where we are now! The Federal Reserve needs to conduct regular $100 billion repos with the major banks (i.e., primary dealers) Because banks simply can not absorb that much Federal Debt. We are at the point now where the Fed is simply printing money to buy U.S. Government debt. The Fed tells the banks when and how much they want to buy in Treasuries. Then the banks go buy it from the Treasury and re-sell it to the Fed for a very small profit. Fed is just buying directly from the Treasury using a straw-man. Federal law states they must use this straw-man to make it legal. This is called Central Banking Debt Monetization. So while that is happening, what occurs when banks, or the world in general, start to question the value of U.S. debt as collateral or even a worthy investment? That's the real problem. A trillion here and a trillion there; next thing you know, we are talking a decillion. This is pointing to a major dollar devaluation. Put your money to work in gold, or it won't worth much. Here's the thing that most people don't realize. The U.S. government can only continue printing dollars as long as the dollar remains the world's reserve currency. And it's only going to get worse as we cannot stop printing because we can't actually afford our existing debts. No one wants you to know this. No one. That's why, despite the obvious inflation going on all around the world, the Fed continues to say there's no inflation at all. The government is radically devaluing the dollar and totally lying to everyone about what is really happening. The Chinese are getting out of the dollar as fast as they can via strategic commodities. With less demand for the dollar around the globe, interest rates will skyrocket. Instead of getting a mortgage at today's low rates of 5%, it may soon cost you 8% or 10% or 15%. Stock prices will likely plummet by at least 40% in a matter of weeks as a result of this event in the currency markets. When the U.S. dollar loses its spot as the world's reserve currency, the brutal downturn will be about 10-times worse than the mortgage crisis of 2008. When everyone is trying to get rid of their dollars, the government is printing more and more to pay debts, and the crisis will reach epic proportions. In the past 100 years, this type of debt crisis has reared its ugly head in Germany, Russia, Austria, Poland, Argentina, Brazil, Chile, Ukraine, Japan, and China. All while Trump is bragging that his tax reform was great. Actually, he passed a tax scam that lowered taxes for corporations, which bought back their own stock instead of giving their employees raises. This, along with lower taxes for the very wealthy, has increased our deficits. I am afraid neither party will ever reduce the spending even though they both admit we don't have the money. The government underwrites so many activities, domestic and foreign. Every time someone is happy they have grant money for any activity, that's OUR money. Imagine how many non-profits, businesses, etc. would fail without that grant money. People always mention the farmers, but it's also medical research, school playground equipment, walking trails, city parks, music programs, and the list goes on and on. Imagine if all these had to compete for your and my dollar like the patron system. Actually, many do. They get the grant money; then, they guilt you and me for more donations. Sadly, the ones who do the most good, in my opinion, are those who receive no government grant money. They are much more careful with their spending since they know it's not an endless pot. And if the joker really wanted to make America great, why hasn't he and his family sold ALL of their foreign assets and reinvested it all back into the United States of America.











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